Fort Lauderdale (Fla.) General Employees Retirement System hired Vanguard to manage $10 million in an S&P 500 index fund, said Dorothy Holt, pension administrator.
The $218 million defined benefit plan funded its first equity index allocation from Davis Hamilton Jackson and Associates, which manages active large-cap equities and fixed income for the fund. Dahab Associates assisted.
Whirlpool Foundation, Benton Harbor, Mich., hired Putnam Institutional Management to manage its $17 million portfolio in six mutual funds. Putnam will use four Delaware Business Trust Funds: a core growth equity trust, small-cap growth trust, international equity trust and Putnam Horizon Management FI trust; and two other Putnam funds: a large-cap value fund and high-yield advantage fund. Frank Luongo, manager of corporate funding, would not identify the previous manager.
Milwaukee Medical Clinic, Milwaukee, hired Fidelity as a bundled provider for its $60 million defined contribution plan, said Judy Starr, controller.
The change was made to simplify the plan and because it's more logical for a plan of this size to have a bundled provider, she said.
She would not name the previous service providers. According to Money Market Directory, Strong Capital Management was the investment provider. Jeffrey Slocum & Associates assisted.
State of Florida Deferred Compensation Plan, Tallahassee, selected eight investment providers for the $850 million plan, and might select one more in another week. Two - Dreyfus and Fidelity - are new; Great American Reserve was terminated. The plan retained Great Western Bank, T. Rowe Price, VALIC, Nationwide Insurance, Great West Life and Security First.
Officials will decide in the next week whether they will re-hire Aetna, another incumbent, said Kandi Hicks, administrator. Investment options for employees will be decided during contract negotiations.
CORRECTION: The name of Sonoco Products Co. was spelled incorrectly in Friday's P&I Daily